JACKSON SCHOOL BOARD OKs REFINANCING PLAN

JACKSON -- The Jackson School District will realize a savings in interest of more than $200,000 by refinancing a $5.5 million lease-revenue-bond issue. The refinancing proposal was approved Tuesday night by the school board at its regular meeting.

The board also heard from a group of parents and high school students who spoke in favor of establishing a girls junior and varsity soccer program next spring, and heard updates on the district's health insurance plan and school budget for 1993-'94.

The district's bond counsel, Robert Ballsrud of Gilmore and Bell of St. Louis, said all of the $200,571 that will be saved in interest will take place over the first three years of the 16-year life of the refinanced bond issue. He said the refinancing of the bonds also reduced the principal to $5,290,000.

Ballsrud said the interest rate of the refinanced, triple-A-rated bonds will average 5.1 percent over the 16-year period.

"That's a tremendous interest rate. It's unusual to have interest rates drop as much as they have in the past several years," he said. "We're in a very favorable interest rate market right now." The bonds will be issued on May 20.

Over 140 parents and students attended the board meeting, which was moved to the primary annex, behind the school administration offices, to accommodate the large number of people. Members of the group, led by Bonnie Knowlan, a fourth-grade teacher in the district and girls soccer coach, asked the board to consider a girls varsity soccer team next spring.

Knowlan said over 45 girls in junior and senior high school have indicated an interest in a girls soccer team, which could play other schools in Carbondale, Ill., and the metro St. Louis area in both Missouri and Illinois.

She said the cost of a soccer team would amount to about $1,900. She said the Jackson Optimist Area Soccer Association Inc. has agreed to donate $1,500 toward the purchase of uniforms and equipment for a girls team. Knowlan pointed out facilities already exist for the boys soccer team, and the girls team could use the boys field equipment since the girls would play at different times.

After the 20-minute presentation, the board agreed to place the soccer issue on its May 25 agenda as an action item. At that time the administration and the district athletic director will make their recommendations on the proposed soccer program to the board.

Business manager Howard Alexander told the board no changes are anticipated in the district's health insurance plan with Mutual of Omaha unless there is a dramatic increase in premiums. A report on the health insurance plan will be made later this year.

Superintendent Wayne Maupin said it is possible the district will recommend adoption of the current 1992-'93 budget to get the district into the new year on July 1. Maupin explained an accurate budget cannot be prepared by July 1 because the legislature will not adjourn until May 14 and the district will not know until after that exactly how much state money it will receive next year. He said a substantial part of the school budget is funded by state money. "It may be June or July before we get some firm numbers to work with," he said.

At the board's May 25 meeting, bids will be opened on the $5.4 million general obligation bond issue for a new middle school.